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Trust fund dollars
Thu April 10, 2014
BCPL Funds Northwoods Schools
Several area school districts are getting money from a state trust fund dating back to Wisconsin's statehood.
The Board of Commissioners of Public Lands has announced that Common School Fund earnings of more than $30 million were distributed to state K-12 public schools to support libraries. The fund was established from state sales and management and doesn't involve tax money.
Executive Secretary Tia Nelson says the interest money earned from the trust fund goes to schools like Rhinelander's...
"....for the Rhinelander School District, that amount this year was $87,000. It amounts to almost $25 per pupil which is enough to put to put a book in the hand of every child in the state of Wisconsin...."
The Crandon school district picked up $40,000, Northland Pines in Eagle River garnered $39,000, Lakeland Union High School $27,000 ,Three Lakes $17,000 among other Northwoods schools.
The Common School Fund was established by state founders in Article 10 of the state Constitution. Nelson says 96 percent of the interest money generated is returned to the citizens. BCPL also funds loans for economic development.